There’s never been a truer statement regarding forecasting mortgage rates than the one offered last year by Mark Fleming, Chief Economist at First American: “You know, the fallacy of economic forecasting is: Don’t ever try and forecast interest rates and or, more specifically, if you’re a real estate economist mortgage rates, because you will always invariably be wrong.” Coming into this year,...
Articles
With rates inching their way up to 5%, the housing market is slowly changing and trends are emerging that illustrate a shift in the insanely hot housing market. New Trends Emerge As rates zoom upwards, home affordability is beginning to impact the housing market in several profound and meaningful ways. The scent of orange tree blossoms is captivating. It is just the beginning of the slow metamorphosis...
When you sell your RCFE, you want to sell your house for the highest price possible. That might be why many RCFE homeowners are eager to list in today’s sellers’ market. After all, with record-low inventory and high buyer demand, many RCFE homes are selling for more than asking price. Data from the National Association of Realtors (NAR) shows 46% of homes are selling above list price...
In today’s sellers’ market, many care home owners are weighing their options and trying to decide if they should sell their care home. If you’re in that group, you may be balancing things like the ongoing health crisis, rising mortgage rates, difficulty in obtaining caregivers and residents, and your own changing needs to determine your best time to sell. However, recent data shows...
As a real estate broker specializing in care home sales, as well as a CPA, I am frequently asked by clients how to “improve the bottom line,” or, increase net operating income. I’m often surprised that many care home owners do not timely prepare monthly operating statements, or, P&Ls. We cannot stress the importance of compiling monthly P&Ls as soon as possible after the end of each...
Selling your care home is no simple task. And when you sell on your own – known as a FSBO (or For Sale by Owner) – you’re responsible for handling some of the more difficult aspects of the process without the expert guidance you need. The 2021 Profile of Home Buyers and Sellers from the National Association of Realtors (NAR) surveys homeowners who recently sold their...
Researchers from the University of California, Riverside say they have uncovered a reason why some people with protein plaques and tangles in their brains do not develop Alzheimer’s disease. The prevailing theory is that brain plaques and tangles (made up of protein fragments) cause Alzheimer’s. In fact, evidence of this damage is one component of an Alzheimer’s diagnosis. But not all people who...
The game of chess can provide incredible lessons to apply to all aspects of life, including the care homebuying process. Chess requires you to plan and think about your strategy from the very beginning of the game. The care homebuying process, like chess, requires strategy and planning. Here are a few things to keep in mind to ensure your plan is as strong as possible when you begin your home...
Like most industries, residential real estate (including residential care homes) has a seasonality to it. For example, toy stores sell more toys in October, November, and December than they do in any other three-month span throughout the year. More cars are sold in the U.S. during the second quarter (April, May, and June) than in any other quarter of the year. Residential real estate is very similar. The...
New legislation introduced by U.S. Rep. Fred Keller (R-PA) Earlier this month aims to create a pipeline of workers for long-term care and other industries. The Strengthening Knowledge, Improving Learning, and Livelihoods, or SKILLS, Act would connect workers who experienced lay-offs and closures in industries hard hit by the pandemic, such as retail and hospitality, to career opportunities in fields such...